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the dangers of a profound effect on the economy, equally real. numerous commentators observed that the parallels to 1929 were ominous. even the upturn in the market in late 1987 had had its parallel in the 1920s, only to be followed by a further collapse and the greatest depression of all times. but it didn't happen. and one reason was that theories of long-run steadiness gave way immediately to an appreciation of the crisis. did we need more money, more liquidity? we would have it, the fed told us, quickly and unequivocally. forget general rules -- handle the crisis first. which leaves us where? perhaps better off in economic fact than in economic theory. cruise control is great in automobiles on the open highway, but when the traffic gets hot and heavy, there is, alas, no substitute for human judgment. hopefully, good judgment. monetary policy was an effective factor in holding down inflation in the booming '90s. the federal reserve was also successful in limiting the damage from various crises to hit the u.s. economy, including the financial c
the dangers of a profound effect on the economy, equally real. numerous commentators observed that the parallels to 1929 were ominous. even the upturn in the market in late 1987 had had its parallel in the 1920s, only to be followed by a further collapse and the greatest depression of all times. but it didn't happen. and one reason was that theories of long-run steadiness gave way immediately to an appreciation of the crisis. did we need more money, more liquidity? we would have it, the fed...
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Mar 17, 2013
03/13
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we need to focus on the green economy and building up the green economy. in the short-term it creates a lot of jobs and the long-term it addresses the climate crisis. so let me talk a little bit more about that. in terms of the short-term policy, i will mention one other short-term issue which is the federal reserve, that controls the short-term interest rates have have been running what they call a zero interest rate policy now for four years. that is the interest rate at which banks borrow is zero. they get free money and they get as much as they want for free. on top of that actually if they take the money and all they do is bank it at the fed, they get one quarter of 1%. it's not a lot. it's one quarter of 1% but if you could borrow a lot you know and getting back for doing absolutely nothing, that is what they are doing. right now also something that is frustrating to me that is not an talked about enough, commercial banks in the country are sitting on $1.5 trillion in cash, 1.5 trillion to give you some sense of that. the total u.s. gdp is $15 trilli
we need to focus on the green economy and building up the green economy. in the short-term it creates a lot of jobs and the long-term it addresses the climate crisis. so let me talk a little bit more about that. in terms of the short-term policy, i will mention one other short-term issue which is the federal reserve, that controls the short-term interest rates have have been running what they call a zero interest rate policy now for four years. that is the interest rate at which banks borrow is...
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Mar 19, 2013
03/13
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economy? what about the global financial system what what risk is there to that because of this cyprus situation? this is a big worry for so many people. >> so, the risk scenario, and i should stress it's a risk scenario, not a baseline is that the cypriots are so upset that you get both political disorder and social unrest and that increases the chance of cyprus exiting the euro zone. if they exit the euro zone, you reopen all these dwhaes are put aside by the very aggressive intervention of the banks. that's the risk, unless they find a solution and unless they exempt the small savers from this levy, that you may get social disorder and political disorder. >> let's bring it here to the u.s. and u.s. stock market. we've had a nice market rally. could this situation disrupt the market rally here and for american investors, is this a time, an opportunity to get in, or is there more turmoil ahead? what do you think? >> so far we've shrugged off this element for three reasons. one is the european
economy? what about the global financial system what what risk is there to that because of this cyprus situation? this is a big worry for so many people. >> so, the risk scenario, and i should stress it's a risk scenario, not a baseline is that the cypriots are so upset that you get both political disorder and social unrest and that increases the chance of cyprus exiting the euro zone. if they exit the euro zone, you reopen all these dwhaes are put aside by the very aggressive...
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agree with you that's not it that's delusional we done in a bubble economy when the real production economy but apart from that he's argument about needing the government to pump in cash when the private sector is taking it out is correct so i'm going to disagree with you on that one but the key is still with the probably picture awaiting an intellectually dishonest way of thinking about the economy and that's why design a program like minsky so people can look at the sort of stuff through and do and that's so old fashioned that's lawns equilibrium that's nonsense that's going to dynamic thinking and that completely inverse the way he thinks about the world i don't believe is dishonest but i do believe his wrong ok fair enough i want to talk about kickstarter first second because here you have an economic model that's relatively new that relies on altruism to yeah it's a great but according to iran kickstarter could never exist doesn't exist altruism simply discourage so according to her this comp this this because this is a company kickstarter this movement of crowdfunding which is now swe
agree with you that's not it that's delusional we done in a bubble economy when the real production economy but apart from that he's argument about needing the government to pump in cash when the private sector is taking it out is correct so i'm going to disagree with you on that one but the key is still with the probably picture awaiting an intellectually dishonest way of thinking about the economy and that's why design a program like minsky so people can look at the sort of stuff through and...
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because the economy in the stock market rarely go hand in hand occasionally they will coincidentally work in march together but that's not generally the average between these two indexes but what we can say is that the wealth is being ported over to the big house of the slave masters and that the people who are not engaging in this stock market rally stop because there's a disconnect with the overall economy it's because they're being disenfranchised and in the slaves we're back to priest civil war days the antebellum south will rise again in america you've got sleeves all over america working for uncle tom that is j.p. morgan's jamie diamond who let them in the big house every once in a while and throw him a bone but other than that go up there pick cotton you'll know good news because of jamie dugan you know rather. you all well of course one of the famous sayings about wall street is where are the clients yachts of course clients have yachts the bankers are the ones that have yachts and this of course is alluded to in this f.t. article where they say the u.s. federal reserve has a
because the economy in the stock market rarely go hand in hand occasionally they will coincidentally work in march together but that's not generally the average between these two indexes but what we can say is that the wealth is being ported over to the big house of the slave masters and that the people who are not engaging in this stock market rally stop because there's a disconnect with the overall economy it's because they're being disenfranchised and in the slaves we're back to priest civil...
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is the path of change and it now the change and it can also drive demand on the real economy so you get a correlation between the two he's seeing the stock market as the cause of the change in wealth in fact changing that is what drives the asset market and also pumps the economy up for a while but as we've seen it can be an artificial pump and it collapses lyta we need to get back to the productive economy. not the rip off opponent of the people i bring span to promote it there steve kane we're here on the west side of manhattan over on the far west side and looking east just a couple of blocks side the viewers can't see it but i can sit and i can see the headquarters of the new york times and of course in that building occasionally would walk paul krugman there economics editor now paul krugman is a guy who believes that there should be no real supply demand economics there should be no integrity in the banking system there should only be money printing till the cows go mom and using the stock market as a guide a success how could this guy it gets away with such intellectually dis
is the path of change and it now the change and it can also drive demand on the real economy so you get a correlation between the two he's seeing the stock market as the cause of the change in wealth in fact changing that is what drives the asset market and also pumps the economy up for a while but as we've seen it can be an artificial pump and it collapses lyta we need to get back to the productive economy. not the rip off opponent of the people i bring span to promote it there steve kane...
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Mar 17, 2013
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economy. so as a for instance, we talked about our visa policy. if we can do things to better facilitate people getting visas in different markets, then they will travel more. we're seeing much greater demand from markets like brazil, india, russia, china to travel to the u.s. if we make it easier for them to do that, then more people will come. so the president got behind this initiative wholeheartedly. they invested in the visa process in brazil, opening up more visa offices. more people are coming, particularly to florida, which we've seen and we benefit from but so does the u.s. economy. >> bob, where does the growth come from from disney in the coming three years. >> in our case it starts with intellectual property and experiences and leveraging that across multiple platforms in multd pell territories. we benefit from technology making this available in more places. one example, a great opportunity for the creators of intellectual property to reach people in new ways. also we see great growth in basically the new franchises we bought or we've
economy. so as a for instance, we talked about our visa policy. if we can do things to better facilitate people getting visas in different markets, then they will travel more. we're seeing much greater demand from markets like brazil, india, russia, china to travel to the u.s. if we make it easier for them to do that, then more people will come. so the president got behind this initiative wholeheartedly. they invested in the visa process in brazil, opening up more visa offices. more people are...
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Mar 13, 2013
03/13
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balancing the budget helps our economy. it gives us a healthy economy and a progrowth economy. this is a goal we should all have. thank you. [captions copyright national cable satellite corp. 2013] [captioning performed by national captioning institute] >> president obama met with senate democrats to discuss issues including the budget. party leaders spoke with reporters about their differing budget proposals. >> we are seeing a contrast. the present -- the president is reaching out to republicans. and the senate, we are working out a bill to advance a compromise that will protect middle-class families. tomorrow, senator murray will introduce her bill that represent a balanced approach to what we need to do with the economy. on the other side, house republicans are moving further away from a compromise. house republicans are advancing the ryan republican budget that is more extreme and propaganda that we have seen in the past. the ryan republican budget slices critical programs and set of asking the wealthiest to pay more. he is going after education, healthcare, research, pris
balancing the budget helps our economy. it gives us a healthy economy and a progrowth economy. this is a goal we should all have. thank you. [captions copyright national cable satellite corp. 2013] [captioning performed by national captioning institute] >> president obama met with senate democrats to discuss issues including the budget. party leaders spoke with reporters about their differing budget proposals. >> we are seeing a contrast. the present -- the president is reaching out...
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Mar 20, 2013
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economy. the u.s. economy's crucial. in order for the world to grow. euro has to go so the economy has to continue in this trajectory of stable solid growth and bring down the rate of unemployment. >> rose: do you expect, has the president engage in a different kind of shall we say diplomacy with congress we'll more likely kind a bargain between the republicans and democrats on taxes and spending. >> that's always going to go down to the wire. i wouldn't expect anything before. the question there is whether the negotiates going down to the wire will spook the markets or not. the markets have been remarkably resillient. we went through a sequester deadline. the dow hits an all time high during this. >> rose: why was that? >> because i think the fed trumps everything. money cures all. >> it's all about the fed. i'm a skeptic on the grand bargain. i don't think there's a passing game here. there's going to be a ground game and it's going to be, we're going to go yard by yard and we may get little species of this but the idea everyone's going to come toget
economy. the u.s. economy's crucial. in order for the world to grow. euro has to go so the economy has to continue in this trajectory of stable solid growth and bring down the rate of unemployment. >> rose: do you expect, has the president engage in a different kind of shall we say diplomacy with congress we'll more likely kind a bargain between the republicans and democrats on taxes and spending. >> that's always going to go down to the wire. i wouldn't expect anything before. the...
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Mar 15, 2013
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last quarter the economy grew by a hair. unemployment is 7.7%. 46 million people are living in poverty today in america. the president says we are in a recovery. i say we are in critical care. look at where we are going. further down the road things that are worse. by the end of 2023, the economy will be at a crawl. we will have $8 trillion in our debt. the devil way down the the country like an anchor. in short, we are on the verge of a debt crisis. our obligations are growing faster than our ability to pay them. our debt is already bigger than our economy. at some point, lenders will lose confidence and demand higher interest rates. when they do, interest rates across the country will sky rocket mortgages, car loans and then pressed for cash, the government will take the easy way out. it will crank up the printing presses. the dollar is sinking finances collapse. the safety that would unravel. the most vulnerable would suffer the most. the debt crisis would be more than an economic event. it would be a moral failure. you s
last quarter the economy grew by a hair. unemployment is 7.7%. 46 million people are living in poverty today in america. the president says we are in a recovery. i say we are in critical care. look at where we are going. further down the road things that are worse. by the end of 2023, the economy will be at a crawl. we will have $8 trillion in our debt. the devil way down the the country like an anchor. in short, we are on the verge of a debt crisis. our obligations are growing faster than our...
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Mar 21, 2013
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between those following the accident- that there are still downside to the economy. do you think that policy has made the right move today? >> i think so. i think, in general, the moves that we've seen over the past six months have been quite helpful. the further move in the direction of trying to get the economy back onto a stronger trajectory for the labor market, more rapid labor market improvement and i think the message from what they did today is, you know, for the time being, stay the course. of course, he's not willing to commit what, you know, what's going to happen in the future as far as the quantity of easing programs are concerned. guns, there's still quite a lot of uncertainty about how long that's going to continue for. but our expectation is that it's still going to continue through this year and then will wind down in 2014. but, yeah, we do expect to support the federal reserve. >> and that, yon, is what i wanted to ask you about. did you divine any hints in the press conference or the statement today about when the federal reserve might take its foo
between those following the accident- that there are still downside to the economy. do you think that policy has made the right move today? >> i think so. i think, in general, the moves that we've seen over the past six months have been quite helpful. the further move in the direction of trying to get the economy back onto a stronger trajectory for the labor market, more rapid labor market improvement and i think the message from what they did today is, you know, for the time being, stay...
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Mar 21, 2013
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it's largely a function of the private economy. it's largely a function of the private economy. and it's a cycle that's very well understood. someone has a really good idea for a business, a new business, or growing their existing business. they somehow get access to money, whether it's their own money or money they borrowed or money someone invests through them, and they open this business. there's no guarantee that that business is going to work out. but they are willing to risk it. and the idea works. and all of a sudden this business that they started all by themselves out of the spare bedroom of their home, they now have five employees. and five employees isn't just a number. that's five families that are taking home a paycheck. those are five providers -- mothers or fathers -- that are bringing home opportunities to their children. this is how prosperity is created. this is how every one of us has ever gotten a job or how our parents got their jobs, or -- either because they or someone else risked it and created a business opportunity that provides them a job. this is how
it's largely a function of the private economy. it's largely a function of the private economy. and it's a cycle that's very well understood. someone has a really good idea for a business, a new business, or growing their existing business. they somehow get access to money, whether it's their own money or money they borrowed or money someone invests through them, and they open this business. there's no guarantee that that business is going to work out. but they are willing to risk it. and the...
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Mar 20, 2013
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and growing the economy. we have to -- 30% of our deficit right now as we look at this going forward is in the slow economic recovery. and so we want these numbers, when we know it was really bad prior to 2009 when president obama was elected, if -- it's gotten better, but it's not where it needs to be. and it won't be where it needs to be unless we invest in innovation, in education, and rebuilding america's infrastructure. that's what we do. this budget makes sense. this budget is for middle-class families all across america. and i would urge my colleagues to support it. mr. sessions: mr. president? the presiding officer: the senator from alabama. mr. sessions: i appreciate the opportunity to be with our colleague, senator stabenow, who serves on the budget committee. what i would like to do just briefly -- and i will he yield to senator roberts -- is that president obama on march 13 of this year said "and so you know my goal is not to chase a balanced budget for the sake of balance." my goal is not to chas
and growing the economy. we have to -- 30% of our deficit right now as we look at this going forward is in the slow economic recovery. and so we want these numbers, when we know it was really bad prior to 2009 when president obama was elected, if -- it's gotten better, but it's not where it needs to be. and it won't be where it needs to be unless we invest in innovation, in education, and rebuilding america's infrastructure. that's what we do. this budget makes sense. this budget is for...
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economy. jamie diamond i'm going to destroy your love tapeworms can grow up to ten feet in this case jamie dimon i think is only about i thought seven. votes you know bob his weight is a tape worm. farms also from this genetic decoding of their d.n.a. they found that they're actually remarkably similar to a cancer so again that's a very apt comparison to make jamie dimon to the tapeworm absolutely you know that was a gift to bear stearns and he's been marauding his way through the too big to fail landscape becoming even bigger to bigger to fail even less bigger big big in eric holder and shaking interest desk it's disgusting we're going to move on to this next headline because it talks exactly about that how too big to jail has become and his influence over the political class leaman creditors can question london well says judge a bankruptcy judge gave creditors of lehman brothers the green light to subpoena former j.p. morgan trader bruno extolled the so-called london whale in an eight point
economy. jamie diamond i'm going to destroy your love tapeworms can grow up to ten feet in this case jamie dimon i think is only about i thought seven. votes you know bob his weight is a tape worm. farms also from this genetic decoding of their d.n.a. they found that they're actually remarkably similar to a cancer so again that's a very apt comparison to make jamie dimon to the tapeworm absolutely you know that was a gift to bear stearns and he's been marauding his way through the too big to...
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debt the mortgage and credit card debt held by every bit every day americans are a real drag on the economy for tonight's conversations the great minds i'm joined by steve keen steve is a professor of economics and finance at the university of western city us in sydney australia and a world renowned authority on a wide range of macro economic issues debt financial instability in monetary theory a frequent critic of mainstream economists who predicted the financial collapse of two thousand and eight received the revere award from the real world economics reviews for his cutting analysis of contemporary economic trends present keen's book economics now revise an expanded edition of the naked emperor dethroned is a must read for anyone interested in learning about how we got into our current financial mess steve welcome a lot of the vehicle and thanks for joining us you could associated your name has been associated with modern monetary or modern money theory tell me about that in your association ok to see you nodding thing about my approach and modern monetary theory which we both believe th
debt the mortgage and credit card debt held by every bit every day americans are a real drag on the economy for tonight's conversations the great minds i'm joined by steve keen steve is a professor of economics and finance at the university of western city us in sydney australia and a world renowned authority on a wide range of macro economic issues debt financial instability in monetary theory a frequent critic of mainstream economists who predicted the financial collapse of two thousand and...
SFGTV2: San Francisco Government Television
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Mar 16, 2013
03/13
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new ice based economy one of innovation, culture - and education. innovation along with it's partner collaboration are being reflected in the explosive growth of the tech sector for each i couldn't engineer hired by pandora or twitter a multiplier effect occurs with job openings create for eliminate oh, mow drivers bare resist at a asks and yoga instructor and is personal finances gore g u r u's and so as we have seen as multimillion dollar facilities being created on both sith of the bay and parts of the rising sports culture tour which we have an abundance of in pot of our cities education is being manifested by the strong and growing influence of our public and private universities in tandem with our expanding healthcare sector. in oakland in 2013, oakland will have three major projects under way for over $2.2 billion surpassing san franciscotion current healthcare construction. we will get this keep it moving here ... it's a little the technology that we are talking about ... there we go. okay. office space previously used by the shining fire se
new ice based economy one of innovation, culture - and education. innovation along with it's partner collaboration are being reflected in the explosive growth of the tech sector for each i couldn't engineer hired by pandora or twitter a multiplier effect occurs with job openings create for eliminate oh, mow drivers bare resist at a asks and yoga instructor and is personal finances gore g u r u's and so as we have seen as multimillion dollar facilities being created on both sith of the bay and...
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Mar 18, 2013
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we'll be right back and talk about the economy. stay with us. alan krueger is here, he's chairman of the whitehouse council of economic advisors. today he presented the economic report of the president. this is what it looks like. the report found that while much work remains, the economy's healing and moving in the right direction and it could create newed head winds. the sequester was signed in law in march 1st full effect is remain to be seen. all eyes on washington. i'm pleased to have alan krueger back at this table. welcome. >> my pleasure. >> rose: what's the essence of this which is sort of like asking moses of the ten commandments which are the important two. give me the essence of what you discover and you want the american public to know. >> you touched on it. the u.s. economy went through a traumatic period. financial crises was extraordinarily deep. we lost $16 trillion in wealth. but we are digging our way out of this problem. we've regained now almost 15 trillion of the lost wealth. over the last 36 months we've added private sect
we'll be right back and talk about the economy. stay with us. alan krueger is here, he's chairman of the whitehouse council of economic advisors. today he presented the economic report of the president. this is what it looks like. the report found that while much work remains, the economy's healing and moving in the right direction and it could create newed head winds. the sequester was signed in law in march 1st full effect is remain to be seen. all eyes on washington. i'm pleased to have alan...
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Mar 21, 2013
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for the economy. but to get devote, my senior senator and friend has asked me about the sequester in virginia. and, mr. president, as some of you might know, i took the floor for my maiden speech on this topic last month a little bit earlier than i would have wished to have talked as a freshman senator but with the specter of sequester having such a significant effect on the commonwealth of virginia, i -- i just felt like i couldn't be silent about it. and i have a senate colleague here from hawaii, senator hirono, who i know feels equally strongly about this issue. i took a tour throughout virginia in the middle of february that was designed before sequester was looming to talk to people who were affected about especially in the armed services area and he heard their stories, senator -- and i heard their stories, senator warner, about sequester and the anxieties and threats that it posed. beginning in early april, 90,000 -- 90,000 -- civilian d.o.d. employees will start to be furloughed, just in the
for the economy. but to get devote, my senior senator and friend has asked me about the sequester in virginia. and, mr. president, as some of you might know, i took the floor for my maiden speech on this topic last month a little bit earlier than i would have wished to have talked as a freshman senator but with the specter of sequester having such a significant effect on the commonwealth of virginia, i -- i just felt like i couldn't be silent about it. and i have a senate colleague here from...
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Mar 13, 2013
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economy is stronger than you think. the problem isn't the u.s. economy it's the world economy. and i think the world economy is much weaker than you think. and don't take my word for it simply look at global indices, particularly emerging markets and most importantly china the number two economy in the world. china today closed on the loss of t -- lows the year. china is significantly underperforming. i don't believe the u.s. in this global economy the u.s. can effectively go it alone. that's what the stock market has done so far but i don't think it's sustainable. >> brian westberry what do you think, will china hold up our recovery? >> i don't think so. look back at 1989, japan back then was the second largest economy in the world. it collapsed. and then in the 1990s the u.s. economy boomed. >> first we had a very severe recession in the early '90s. >> it wasn't very severe but we had a recession. we boomed in the 1990s. we already had our recession. swrap has been down for 20 years. if that's all we get i'll take it. the bottom line is what's driving -- >> the point i want t
economy is stronger than you think. the problem isn't the u.s. economy it's the world economy. and i think the world economy is much weaker than you think. and don't take my word for it simply look at global indices, particularly emerging markets and most importantly china the number two economy in the world. china today closed on the loss of t -- lows the year. china is significantly underperforming. i don't believe the u.s. in this global economy the u.s. can effectively go it alone. that's...
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Mar 20, 2013
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if there is a greater optimism about the economy? do you think that that's going to create anxiety, that the fed will start to scale back earlier than expected or is it a good thing when good news -- >> good news is not good news at the initial. there's too many people expecting that they will do nothing. you have to have it so the vast majority of people expect them to do something. >> it might create a sell-off in the market. >> they have to do it right. yeah, it could. >> could i add something. >> very quickly. >> at the end of the day the fed has to acknowledge the economy. it's good but not good enough. there's no way it's good enough for the fed to stop doing what it's doing. >> how good does the fed see the economy? let's find out right now. >> the federal reserve voting 11-1 to maintain its policy of purchasing $85 billion of mortgage-backed securities and treasuries monthly saying it will continue to make purchases until the labor market shows substantial improvement. that's pretty much exactly as written last time around. t
if there is a greater optimism about the economy? do you think that that's going to create anxiety, that the fed will start to scale back earlier than expected or is it a good thing when good news -- >> good news is not good news at the initial. there's too many people expecting that they will do nothing. you have to have it so the vast majority of people expect them to do something. >> it might create a sell-off in the market. >> they have to do it right. yeah, it could....
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Mar 20, 2013
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we just hit the economy with a $1.6 trillion tax increase. the economy's not roaring right now. and what they're saying, let's o that all over again. we are saying fix the tax code, replace it with a pro-growth tax system that helps small businesses, that helps job creators, that helps families. get government spending's appetite under control. the government is supposed to be spending 5% on average for the next 10 years. that's too much. that's much more than what the family budget gets. we sebring it down to 3.-- we say bring it down to 3.4%. when we look at all the smoke and mirrors, all the claims, none of the democratic budgets that's being brought to the floor ever, ever balance the budget. how is that a balanced plan? balancing the budget is what every family does. balancing the budget is what every business does. balancing the budget is what every local government does. surely our federal government can do this, and one of the key ingredients to growing this economy, to making american businesses big and small competitive so they can create jobs and create take-home pay
we just hit the economy with a $1.6 trillion tax increase. the economy's not roaring right now. and what they're saying, let's o that all over again. we are saying fix the tax code, replace it with a pro-growth tax system that helps small businesses, that helps job creators, that helps families. get government spending's appetite under control. the government is supposed to be spending 5% on average for the next 10 years. that's too much. that's much more than what the family budget gets. we...
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where the the chinese currency appreciates and you have a tremendous a local domestic economy spenders in china who are buying the things that they've been manufacturing because they can afford it because their currency suddenly appreciated remember the u.s. dollar as a percentage of world trade as steadily decrease every quarter of every year for the past twenty years and this trend is now getting to the point where as a percent. as of global trade the u.s. dollar will dip below fifty percent at that point you can categorically state that the us dollar is no longer the world reserve currency in a rapidly approaching that number so again here we see a situation where china might have to internationalize like let it float suddenly ok that's one thing so in the background that would mean they must be looking at a way to accumulate gold more rapidly if they think that's the situation but on the international stage look at this next headline currency wars central banks in denial or lying and this is from our friend upon the planet that comments fire stein and he says a large consumer produ
where the the chinese currency appreciates and you have a tremendous a local domestic economy spenders in china who are buying the things that they've been manufacturing because they can afford it because their currency suddenly appreciated remember the u.s. dollar as a percentage of world trade as steadily decrease every quarter of every year for the past twenty years and this trend is now getting to the point where as a percent. as of global trade the u.s. dollar will dip below fifty percent...
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Mar 16, 2013
03/13
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consumers are concerned about the national economy. they just took a hit in their paychecks as a result of the payroll tax hike, and then on top of that the higher gas prices are going to force them to make some decisions that they wouldn't otherwise have to make. so it's very concerning. >> reporter: pain at the pump is something that all americans can identify with. but many consumers say that they work their budgets around higher gas prices because commuting expenses are nonnegotiable. but how do the higher prices impact the rest of their spending remains to be seen. for "nightly business report," i'm jackie deangelis. >>> while energy prices creep higher, so does optimism about the recovery in the u.s. housing market. one of the nation's largest home builders say the fundamentals in the real estate turn around are strong, and that an increase in home prices is not a bad thing. >> what we're seeing is that prices are moving up, not because costs are moving up so much, but because demand is getting so strong, we're seeing some freein
consumers are concerned about the national economy. they just took a hit in their paychecks as a result of the payroll tax hike, and then on top of that the higher gas prices are going to force them to make some decisions that they wouldn't otherwise have to make. so it's very concerning. >> reporter: pain at the pump is something that all americans can identify with. but many consumers say that they work their budgets around higher gas prices because commuting expenses are nonnegotiable....
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street are they one of the most responsible for an economy. yeah i mean they're not really doing this as a percentage they're not really doing their job properly until intermediation so when people are on food stamps you can point to jamie dimon and j.p. morgan by the way who's the biggest player in food stamps i don't know jamie jamie dimon j.p. morgan all right so they're not they've got a dog in that race as well not only are they defrauding the public but they're putting out food stamps and taking a cut on the breadline busy to vertically integrated fraudster. i don't work there colder on this he says he can't go after him because he's hiding under his desk right and he said they jamie might not get me a christmas card with your but i think that says everything the fact that we have institutions that control and are treated differently and we bedded that in by calling these companies different they are systemically important right the other seven thousand banks to try and earn an honest living in this country they're not important but who
street are they one of the most responsible for an economy. yeah i mean they're not really doing this as a percentage they're not really doing their job properly until intermediation so when people are on food stamps you can point to jamie dimon and j.p. morgan by the way who's the biggest player in food stamps i don't know jamie jamie dimon j.p. morgan all right so they're not they've got a dog in that race as well not only are they defrauding the public but they're putting out food stamps and...
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economy with other economies around the world but there is no economy in palestine they say for example that the economic structure of palestinian of the economy the structure of the palestinian economy has drastically deteriorated since one thousand nine hundred ninety four now keep in mind the year nineteen ninety four that's when the so-called peace process began the oslo accord was signed in september one thousand nine hundred ninety three so from the very beginning the very inception you might say the first day of the peace process until today the world bank says the manufacturing sector of the palestinian economy has drastically the theory or raided the agricultural sector has drastically deteriorated so what has improved will they say the public sector has improved what is the public sector the public sector or simply handouts from the international community. and the public sector of this past year the biggest growth was in security that is to say the palestinian authority hired more torturers this year than any year in the past that's the palestinian condom no longer have to ju
economy with other economies around the world but there is no economy in palestine they say for example that the economic structure of palestinian of the economy the structure of the palestinian economy has drastically deteriorated since one thousand nine hundred ninety four now keep in mind the year nineteen ninety four that's when the so-called peace process began the oslo accord was signed in september one thousand nine hundred ninety three so from the very beginning the very inception you...
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Mar 17, 2013
03/13
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there is drags on the economy and we'll need more taxes to close the gaps. companies would like taxes to be low but also don'tment -- don't want to collapse the economy. theymentment economy to grow and not go broke and some mix of spending cuts and tax increases will hopefully lead us down the path but not the japan path. i don't know which plan is better. they are both magic in my opinion. one wants taxes raised and the other want to lower it twitch percent like that is going to balance the budget. i don't know which one is working. >> johnathon, you took a hike up a big mountain, should taxings go up? >> no, they shouldn't unless they are paying off the debt. we are raising a trillion in taxes according to the democratic proposal. you are only raising taxes to raise spending also. you are not paying off the deficit. governor scott and perry, come to the states where you don't have to pay a state income tax. that's what businesses want. this democratic budget is the biggest joke i have ever seen. 10 years from now. you are still running a trillion dollar d
there is drags on the economy and we'll need more taxes to close the gaps. companies would like taxes to be low but also don'tment -- don't want to collapse the economy. theymentment economy to grow and not go broke and some mix of spending cuts and tax increases will hopefully lead us down the path but not the japan path. i don't know which plan is better. they are both magic in my opinion. one wants taxes raised and the other want to lower it twitch percent like that is going to balance the...
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Mar 14, 2013
03/13
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the best way to shrink our deficit is to grow our economy. to grow good paying jobs and put hard-working americans back to work. unemployment remains stubbornly high. we have seen the enemy and he is us. our bloated and inefficient federal government does not promote but stifles progress. it makes us less competitive in the world. we are not being beaten by our competitors worldwide. we are beating ourselves. through excessive taxation and regulation, the federal government stifles economic growth and shifts more and more american jobs overseas every year. on a regulation in energy robs the middle class through higher fuel costs, slows our path to a national energy independence, and costs hundreds of thousands of new american jobs in the energy industry. small banks are a primary source of capital for middle-class families and small businesses. the added burden of the dodd- frank regulations, hamstrings our banks at a time when small businesses and middle-class families need them the most. it does nothing to prevent large institutions from be
the best way to shrink our deficit is to grow our economy. to grow good paying jobs and put hard-working americans back to work. unemployment remains stubbornly high. we have seen the enemy and he is us. our bloated and inefficient federal government does not promote but stifles progress. it makes us less competitive in the world. we are not being beaten by our competitors worldwide. we are beating ourselves. through excessive taxation and regulation, the federal government stifles economic...
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Mar 19, 2013
03/13
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it also will help grow our economy, help create jobs. our plan is a plan to grow the economy. and what we are seeing on the other side from the senate by the democrat is a plan that's going to grow one thing, and that's the national debt. so at a time when many seniors are worried about their benefits, and we see many young people having trouble finding jobs after they graduate from college, ours is a plan that is going to give them the certainty and that is going to help them find those jobs because it's going to help grow the economy. what we need from the president and what we need from the senate democrats is a plan to join, to join us in this effort to -- that's going to help improve the lives of americans all across his country. >> a few c.p.a.'s in this town, you are going to be hard-pressed to find a bigger tax budget or economic geek than me. there's nothing i enjoy more than having a discussion about debt to equity ratios and 302-b allocations and the difference between getting to primary balance as opposed to actually alancing the budget. i have been told normal peo
it also will help grow our economy, help create jobs. our plan is a plan to grow the economy. and what we are seeing on the other side from the senate by the democrat is a plan that's going to grow one thing, and that's the national debt. so at a time when many seniors are worried about their benefits, and we see many young people having trouble finding jobs after they graduate from college, ours is a plan that is going to give them the certainty and that is going to help them find those jobs...
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Mar 17, 2013
03/13
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it does not do juss justice to our economy. ts unfair to the people depending on these critical safety net programs. with that, i yield to the ranking member mr. van holland for his opening statement. >> thank you, mr. chairman. again i want to thank all the members of the committee as we gather here at what is a very important moment for our country. thanks to the ingenuity and resilience of the american people, and the emergency actions taken by the president and the congress four years ago, we are continuing to recover from the worst recession since the great depression. momentum in the job market continues to grow. but we still have a long way to go to help put people back to work to accelerate economic growth, and to boost small business hiring. yes, we must and can steadily reduce our deficit and reduce and stable lies the debt but we should do that in a way that immediately reduces the job deficit. rather than a budget that immediately makes that job deficit worse. unfortunately, this republican budget fails that very si
it does not do juss justice to our economy. ts unfair to the people depending on these critical safety net programs. with that, i yield to the ranking member mr. van holland for his opening statement. >> thank you, mr. chairman. again i want to thank all the members of the committee as we gather here at what is a very important moment for our country. thanks to the ingenuity and resilience of the american people, and the emergency actions taken by the president and the congress four years...
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Mar 21, 2013
03/13
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the economy is picking up steam, no question about it. we're seeing really good stock market obviously. the one thing that i worry about,hat ben bernanke doesn't worry about, those esther george, the fed chief, that kansas city bank basically said we have to worry a little bit about inflation when we keep putting $80 billion into the economy every month. i agree with that concern. melissa: julia, what do you think about that. he was asked that question directly a number of times t was also in the statement. very mch shrugged it off. he basically said we could use a little bit more inflation right now? >> absolutely. >> he should shrug it off. i completely disagree with that. what the economy needs is employment and employment will lead to wage growth. then we can start worrying about inflation the adpri -- agree with earn about key the bigger risk they pull back too early and once again we see momentum slip away. this is a fragile recovery the upside of them being wrong so often that they actually acknowledge it and try and adjust. so the
the economy is picking up steam, no question about it. we're seeing really good stock market obviously. the one thing that i worry about,hat ben bernanke doesn't worry about, those esther george, the fed chief, that kansas city bank basically said we have to worry a little bit about inflation when we keep putting $80 billion into the economy every month. i agree with that concern. melissa: julia, what do you think about that. he was asked that question directly a number of times t was also in...
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Mar 20, 2013
03/13
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david: sort of a bellwether of the economy, what the economy is doing here and as well overseas caterpillar was the worst performer on the dow. it was only down less than 2%. it did drag down the dow from what it could have been. the company is reporting dealer sales, get this, in the asian region dropped 26% in the last three months. north america by comparison only fell 12%. big drop in purchases from asia. lauren: stronger than expected results from general mills giving a boost to the food stocks today, a slew of flames hitting life-time highs -- names. hershey, flower foods. j&j snack foods and hormel on the list. david: the markets continued their climb as the federal reserve vowed to keep the printing presses roll being but is the market the only thing really benefiting from their programs? former congressman and long-time fed critic ron paul is telling us exclusively how all this could have potentially, extremely dangerous impact on the money you have in the bank and our country in general. lauren: plus cyprus may be the on the brink of default and looking to confiscate people's mone
david: sort of a bellwether of the economy, what the economy is doing here and as well overseas caterpillar was the worst performer on the dow. it was only down less than 2%. it did drag down the dow from what it could have been. the company is reporting dealer sales, get this, in the asian region dropped 26% in the last three months. north america by comparison only fell 12%. big drop in purchases from asia. lauren: stronger than expected results from general mills giving a boost to the food...
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economy as the world's largest economy sometime within the next four years it's now projected to overtake so i think i think whether or not they're able to get on the same blistering course that they were in the past i think the there is now such institutional investment in the in the economic infrastructure that's been created around china in the past few years that i think a lot of players at the table are really invested in the idea of china continuing to grow and we see this now with people scrutinizing the latest manufacturing data out of china very closely and if it was true in years past that if the u.s. needs the rest of the world caught a cold i think it's now becoming true in the chinese situation so i think there's going to be even if china is not able to maintain its blistering pace of growth it is still going to continue to grow because there's a lot of investment simply changing on that idea let's just talk about the military because despite the current slide than it has increased and actually spending by a double digit a man doesn't it say do you think it's time to set itse
economy as the world's largest economy sometime within the next four years it's now projected to overtake so i think i think whether or not they're able to get on the same blistering course that they were in the past i think the there is now such institutional investment in the in the economic infrastructure that's been created around china in the past few years that i think a lot of players at the table are really invested in the idea of china continuing to grow and we see this now with people...
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Mar 14, 2013
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economy. >> we had a couple of huge risks hanging over the global economy for the last year. china had the hard landing, the euro break-up, would america fall over its fiscal cliff. none of those things happened. >> reporter: but several good things have happened including more signs today of a turnaround in the labor market. the number of people claiming initial jobless claims falling last week to a lower-than-expected 332,000. that following last friday's february employment report which showed the unemployment rate fell to its lowest level since 2008. but while the outlook on jobs is improving, inflation is putting more pressure on u.s. businesses. producer prices or the cost of businesses to manufacture goods rose again in february, climbing nearly 1.7% in just the past year. pushed higher by rising gas prices. at the same time, the u.s. dollar has shown some relative strength, up 4% in just the past two months against the other major currencies. while a stronger dollar sounds great, it can hurt american business making u.s. exports more expensive to foreign buyers. >> to
economy. >> we had a couple of huge risks hanging over the global economy for the last year. china had the hard landing, the euro break-up, would america fall over its fiscal cliff. none of those things happened. >> reporter: but several good things have happened including more signs today of a turnaround in the labor market. the number of people claiming initial jobless claims falling last week to a lower-than-expected 332,000. that following last friday's february employment...